Predicting lessee switch behavior using logit models

Jan Willem Feilzer; Daan Stroosnier; Elenna Dugundji; Thomas Koch

doi:10.1016/j.procs.2021.03.048

Predicting lessee switch behavior using logit models

Jan Willem Feilzer, Daan Stroosnier, Elenna Dugundji, Thomas Koch^*

^*Corresponding author for this work

Mathematics

Research output: Contribution to Conference › Paper › Academic

Abstract

Modeling the mode choice by an individual is a challenging task. In this paper, vehicle choice of lessees is discussed. Prediction of vehicle choice occurs by fitting three different logit models: standard, nested and cross-nested multinomial logistic regression. Both nested and cross-nested logit relax error term distribution assumptions and therefore allow for correlations across alternative vehicle choices. It is shown that allowing for correlation across alternatives is the proper way of modeling lessees' vehicle choice.

Original language	English
Pages	380-387
Number of pages	8
DOIs	https://doi.org/10.1016/j.procs.2021.03.048
Publication status	Published - 2021
Event	12th International Conference on Ambient Systems, Networks and Technologies, ANT 2021 / 4th International Conference on Emerging Data and Industry 4.0, EDI40 2021 / Affiliated Workshops - Warsaw, Poland Duration: 23 Mar 2021 → 26 Mar 2021

Conference

Conference	12th International Conference on Ambient Systems, Networks and Technologies, ANT 2021 / 4th International Conference on Emerging Data and Industry 4.0, EDI40 2021 / Affiliated Workshops
Country/Territory	Poland
City	Warsaw
Period	23/03/21 → 26/03/21

Bibliographical note

Publisher Copyright:
© 2021 The Authors. Published by Elsevier B.V. This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)

Keywords

(Cross-)nested logit
Auto lease
Discrete choice
Lessee switch behavior
Vehicle choice

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

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10.1016/j.procs.2021.03.048

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Feilzer, J. W., Stroosnier, D., Dugundji, E., & Koch, T. (2021). Predicting lessee switch behavior using logit models. 380-387. Paper presented at 12th International Conference on Ambient Systems, Networks and Technologies, ANT 2021 / 4th International Conference on Emerging Data and Industry 4.0, EDI40 2021 / Affiliated Workshops, Warsaw, Poland. https://doi.org/10.1016/j.procs.2021.03.048

@conference{cabdb4f9cd3042e1baa02ce2da3dc0de,

title = "Predicting lessee switch behavior using logit models",

abstract = "Modeling the mode choice by an individual is a challenging task. In this paper, vehicle choice of lessees is discussed. Prediction of vehicle choice occurs by fitting three different logit models: standard, nested and cross-nested multinomial logistic regression. Both nested and cross-nested logit relax error term distribution assumptions and therefore allow for correlations across alternative vehicle choices. It is shown that allowing for correlation across alternatives is the proper way of modeling lessees' vehicle choice.",

keywords = "(Cross-)nested logit, Auto lease, Discrete choice, Lessee switch behavior, Vehicle choice",

author = "Feilzer, {Jan Willem} and Daan Stroosnier and Elenna Dugundji and Thomas Koch",

note = "Publisher Copyright: {\textcopyright} 2021 The Authors. Published by Elsevier B.V. This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/); 12th International Conference on Ambient Systems, Networks and Technologies, ANT 2021 / 4th International Conference on Emerging Data and Industry 4.0, EDI40 2021 / Affiliated Workshops ; Conference date: 23-03-2021 Through 26-03-2021",

year = "2021",

doi = "10.1016/j.procs.2021.03.048",

language = "English",

pages = "380--387",

}

Feilzer, JW, Stroosnier, D, Dugundji, E & Koch, T 2021, 'Predicting lessee switch behavior using logit models', Paper presented at 12th International Conference on Ambient Systems, Networks and Technologies, ANT 2021 / 4th International Conference on Emerging Data and Industry 4.0, EDI40 2021 / Affiliated Workshops, Warsaw, Poland, 23/03/21 - 26/03/21 pp. 380-387. https://doi.org/10.1016/j.procs.2021.03.048

Predicting lessee switch behavior using logit models. / Feilzer, Jan Willem; Stroosnier, Daan; Dugundji, Elenna et al.
2021. 380-387 Paper presented at 12th International Conference on Ambient Systems, Networks and Technologies, ANT 2021 / 4th International Conference on Emerging Data and Industry 4.0, EDI40 2021 / Affiliated Workshops, Warsaw, Poland.

Research output: Contribution to Conference › Paper › Academic

TY - CONF

T1 - Predicting lessee switch behavior using logit models

AU - Feilzer, Jan Willem

AU - Stroosnier, Daan

AU - Dugundji, Elenna

AU - Koch, Thomas

PY - 2021

Y1 - 2021

N2 - Modeling the mode choice by an individual is a challenging task. In this paper, vehicle choice of lessees is discussed. Prediction of vehicle choice occurs by fitting three different logit models: standard, nested and cross-nested multinomial logistic regression. Both nested and cross-nested logit relax error term distribution assumptions and therefore allow for correlations across alternative vehicle choices. It is shown that allowing for correlation across alternatives is the proper way of modeling lessees' vehicle choice.

AB - Modeling the mode choice by an individual is a challenging task. In this paper, vehicle choice of lessees is discussed. Prediction of vehicle choice occurs by fitting three different logit models: standard, nested and cross-nested multinomial logistic regression. Both nested and cross-nested logit relax error term distribution assumptions and therefore allow for correlations across alternative vehicle choices. It is shown that allowing for correlation across alternatives is the proper way of modeling lessees' vehicle choice.

KW - (Cross-)nested logit

KW - Auto lease

KW - Discrete choice

KW - Lessee switch behavior

KW - Vehicle choice

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DO - 10.1016/j.procs.2021.03.048

M3 - Paper

AN - SCOPUS:85106706136

SP - 380

EP - 387

T2 - 12th International Conference on Ambient Systems, Networks and Technologies, ANT 2021 / 4th International Conference on Emerging Data and Industry 4.0, EDI40 2021 / Affiliated Workshops

Y2 - 23 March 2021 through 26 March 2021

ER -

Predicting lessee switch behavior using logit models

Abstract

Conference

Bibliographical note

Keywords

UN SDGs

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